BCG expert: digital technologies are transforming global economic sectors

Digital technologies and innovations, including artificial intelligence and big data, are transforming entire sectors and encourage entrepreneurs to reform and innovate their usual business ideas.

Partner and managing director of Boston Consulting Group (BCG) Alexander Jorov said that companies that are slow to introduce digital innovations have a higher risk to lose their competitiveness.  

“I believe that competition is the driver of progress. The higher the competition, the faster the technologies are being implemented in businesses.”

“If competition is limited for some reasons in certain sectors, it shows that shareholders should have higher ambitions because it will also promote the introduction of technologies in business,” he said.

According to Jorov, the Astana Economic Forum provides an excellent opportunity for various companies to establish business partnerships as well as to adopt the experience of technology leaders among small and medium business owners.

“The Astana Economic Forum is an excellent platform where experts from around the world have the opportunity to exchange their views,” he said.

He added that the event is also useful for the economic development of Kazakhstan as well as the development of the country as a whole in terms of establishing interpersonal relationships between partners and local businesses.

The expert said that innovative transformation is important in all sectors of the economy. He states that technological breakthrough will allow Kazakhstan to achieve greater success and growth in the modern world.